The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Wells Fargo Agents Revolver Increase for Ubiquiti Networks
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Lenders/Participants
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Wells Fargo Bank [Administrative Agent]
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Structure
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Revolver Amendment;Increase
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Amount
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$300.000
Million
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Borrower(s)
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Ubiquiti Networks, Inc.
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Description
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First Amendment (the “First Amendment”) to the Amended and Restated Credit Agreement, dated as of March 3, 2015 (the “Credit Agreement”), governing the Company’s senior secured credit facilities, by and among the Company and Ubiquiti International Holding Company Limited, a wholly-owned subsidiary of the Company, as borrowers, certain subsidiaries of the borrowers, as guarantors, the lenders and other financial institutions party thereto and Wells Fargo Bank, National Association, as administrative agent (“Wells Fargo”). The First Amendment (a) increases the maximum aggregate amount of revolving loan commitments from $200 million to $300 million and (b) allows for an incremental increase of $50 million in the form of term loans or revolving credit commitments, subject to the Company’s pro forma compliance with financial covenants, the administrative agent’s approval, the Company obtaining commitments for such increase and other customary conditions. The First Amendment also provides that the Company and certain of its subsidiaries will be required to maintain minimum liquidity of $250 million, which represents a $25 million increase from the previous minimum liquidity test. All other material terms and provisions of the Credit Agreement remain substantially identical to the terms and provisions in place immediately prior to the effectiveness of the First Amendment, other than the revision or inclusion of certain customary market provisions.
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Industry
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Technology
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| Related Tags |
Wells Fargo Bank
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ABL Advisor
Deal Tables
2024
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